Was down -1.7 basis points at the start of the North American session.

The US yields have taken a turn to the downside in early New York trading. At the start of the North American session, the 10 year yield was -1.7 basis points and the 30 year yield was -1.7 basis points as well. The tenure is now down -4.8 basis points to 1.521% (the low reach 1.511%). The 30 year yield is down -4.7 basis points to 2.2% (low 2.193%). 

Looking at the 10 yield chart, the rising 100 hour moving average is currently at 1.482%. The last time the yield traded below that moving average was back on October 5, 2020. A move below would tilt the technical bias to the downside. 

The high yield reach 1.774% back on March 30. The price action since April 6 has been trading mostly between 1.70% and 1.529%. There was a dipped below in early May to 1.484%. That low corresponds closely with the 100 hour moving average currently.

Source link